RismadarVoice Reporters
October 3, 2026
Vice President Kashim Shettima has defended President Bola Tinubu’s economic reforms, saying the administration’s decisions on petrol subsidy and foreign exchange prevented Nigeria’s economy from sliding into collapse.
Shettima spoke on Saturday after meeting Tinubu at the President’s residence in Lagos following his return from a stay abroad.
The Vice President said members of the administration remained in regular contact with Tinubu while he was away and continued updating him on developments in the country.
“We are quite thrilled that he is back on the beat, and we have been in regular contact throughout his sojourn abroad,” Shettima said.
Turning to the economy, Shettima described the removal of petrol subsidy and the realignment of multiple exchange rates as difficult but necessary decisions taken at the beginning of the administration.
He claimed Nigeria’s available foreign reserves were about $3.9 billion when the administration assumed office, arguing that the position left the economy vulnerable.
According to the Vice President, Tinubu’s reforms helped avert a deeper economic crisis.
“He saved the economy. I want Nigerians to understand this fundamental truth,” Shettima said.
“We are on the road to Caracas. He saved our economy. He saved the nation from falling to pieces.”
Shettima acknowledged the economic pressure facing households but maintained that the government was introducing measures intended to ease the burden.
“We appreciate the pains Nigerians are going through, but tough times do not last forever. Tough people do,” he said.
The Vice President announced that the Federal Government plans to roll out an e-logistics programme in the North-East in the coming weeks, including 10,600 electric tricycles and 300 buses and electric taxis.
He said the initiative was designed to reduce transportation challenges and provide economic relief to residents of the region.
Shettima also highlighted the Nigerian Education Loan Fund, NELFUND, describing it as an important intervention aimed at expanding access to higher education for students from financially disadvantaged backgrounds.
He said the administration would continue introducing programmes and projects aimed at addressing the economic challenges confronting Nigerians.
With political activities gathering momentum ahead of the 2027 general elections, Shettima said the administration would continue to combine political engagement with its responsibility to govern.
“Politics is in the air, but we will combine politics and governance,” he said.
